$DREM
Dream Homes & Development Corp.

2023 Q3 Form 10-Q Financial Statement

#000149315223029420 Filed on August 18, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $1.644M $706.7K $1.082M
YoY Change -60.78% -34.7% -26.84%
Cost Of Revenue $944.5K $475.3K $828.1K
YoY Change -69.18% -42.6% -33.06%
Gross Profit $699.6K $231.4K $254.1K
YoY Change -37.96% -8.95% 4.95%
Gross Profit Margin 42.55% 32.74% 23.48%
Selling, General & Admin $154.9K $242.6K $192.1K
YoY Change -56.91% 26.31% 3.78%
% of Gross Profit 22.15% 104.86% 75.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.575K $1.575K $1.698K
YoY Change 503.45% -7.24% 0.53%
% of Gross Profit 0.23% 0.68% 0.67%
Operating Expenses $156.5K $244.2K $193.8K
YoY Change -56.5% 26.01% 3.75%
Operating Profit $543.1K -$12.81K $60.34K
YoY Change -29.28% -121.23% 8.97%
Interest Expense $20.12K $25.45K $31.33K
YoY Change -26.19% -18.77% 161.08%
% of Operating Profit 3.7% 51.92%
Other Income/Expense, Net -$20.12K -$25.45K -$31.33K
YoY Change -183.5% -18.77% 161.08%
Pretax Income $523.0K -$38.26K $29.01K
YoY Change -33.97% -231.87% -33.11%
Income Tax
% Of Pretax Income
Net Earnings $523.0K -$38.26K $29.01K
YoY Change -33.97% -231.87% -33.11%
Net Earnings / Revenue 31.81% -5.41% 2.68%
Basic Earnings Per Share $0.01 $0.00 $0.00
Diluted Earnings Per Share $0.01 $0.00 $809.80
COMMON SHARES
Basic Shares Outstanding 40.41M shares 35.82M shares 35.82M shares
Diluted Shares Outstanding 40.41M shares 39.19M shares 35.82M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.08K $17.68K $121.8K
YoY Change -86.89% -85.49% -62.04%
Cash & Equivalents $56.08K $17.68K $121.8K
Short-Term Investments
Other Short-Term Assets $610.8K $398.3K $0.00
YoY Change -100.0%
Inventory
Prepaid Expenses
Receivables $178.1K $127.8K $318.9K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.003M $654.9K $1.072M
YoY Change -37.61% -38.92% 4.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.491K $3.066K $19.72K
YoY Change -95.44% -84.45% -4.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.545M $7.161M $7.881M
YoY Change 51.07% -9.13% 21.56%
Total Long-Term Assets $9.546M $7.164M $7.932M
YoY Change 49.56% -9.69% 21.38%
TOTAL ASSETS
Total Short-Term Assets $1.003M $654.9K $1.072M
Total Long-Term Assets $9.546M $7.164M $7.932M
Total Assets $10.55M $7.819M $9.005M
YoY Change 32.02% -13.17% 19.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $846.4K $945.8K $463.2K
YoY Change 21.7% 104.21% -6.61%
Accrued Expenses $328.5K $287.1K $173.1K
YoY Change 63.95% 65.88% 402.58%
Deferred Revenue $55.61K $93.00K $333.4K
YoY Change -71.66% -72.1%
Short-Term Debt $1.256M $2.747M $3.894M
YoY Change -37.47% -29.45% 9.15%
Long-Term Debt Due $922.0K $923.7K $911.2K
YoY Change 1.46% 1.37% 2.02%
Total Short-Term Liabilities $3.419M $5.007M $5.791M
YoY Change -22.91% -13.54% 9.41%
LONG-TERM LIABILITIES
Long-Term Debt $5.815M $2.019M $2.534M
YoY Change 178.95% -20.34% 46.93%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.815M $2.019M $2.534M
YoY Change 178.95% -20.34% 46.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.419M $5.007M $5.791M
Total Long-Term Liabilities $5.815M $2.019M $2.534M
Total Liabilities $9.234M $7.026M $8.326M
YoY Change 41.63% -15.61% 18.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.052M -$1.575M -$1.597M
YoY Change 30.69% -1.38%
Common Stock $40.41K $40.41K $35.82K
YoY Change 12.81% 12.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.316M $792.8K $679.0K
YoY Change
Total Liabilities & Shareholders Equity $10.55M $7.819M $9.005M
YoY Change 32.02% -13.17% 19.09%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $523.0K -$38.26K $29.01K
YoY Change -33.97% -231.87% -33.11%
Depreciation, Depletion And Amortization $1.575K $1.575K $1.698K
YoY Change 503.45% -7.24% 0.53%
Cash From Operating Activities $117.0K $447.1K -$91.27K
YoY Change -82.94% -589.88% -154.29%
INVESTING ACTIVITIES
Capital Expenditures $2.384M $671.7K -$83.96K
YoY Change 299.84% -899.99%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.384M -$671.7K -$83.96K
YoY Change -499.84% 699.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.297M 51.12K 169.6K
YoY Change -335.46% -69.85% -185.91%
NET CHANGE
Cash From Operating Activities 117.0K 447.1K -91.27K
Cash From Investing Activities -2.384M -671.7K -83.96K
Cash From Financing Activities 2.297M 51.12K 169.6K
Net Change In Cash 30.68K -173.4K -5.660K
YoY Change -89.97% 2964.31% -80.64%
FREE CASH FLOW
Cash From Operating Activities $117.0K $447.1K -$91.27K
Capital Expenditures $2.384M $671.7K -$83.96K
Free Cash Flow -$2.267M -$224.6K -$7.310K
YoY Change -2638.05% 2971.96% -104.35%

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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
120485 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
59828 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
53015 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-163760 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-80203 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
186406 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-40788 usd
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
5790 usd
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
979549 usd
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
609391 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-979549 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-615181 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
15000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-18572 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
1350000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1725000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
552833 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
31028 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
107175 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
491462 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
196500 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
181925 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
82456 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
285433 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
586374 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-507710 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-69595 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
525389 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
191439 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17679 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
121844 usd
DREM Stock Issued During Period Share Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodShareRestrictedStockAwardNetOfForfeitures
4590000 shares
us-gaap Stock Issued1
StockIssued1
91800 usd
CY2009Q1 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
75000000 shares
CY2009Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
70000000 shares
CY2009Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2009Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2009Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_ztagXklxAbGf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_864_z7MeeL8e7LRh">Use of Estimates</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
62821 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
59671 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3066 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6216 usd
us-gaap Depreciation
Depreciation
3150 usd
us-gaap Depreciation
Depreciation
3387 usd
CY2023Q2 DREM Other Deposits Net
OtherDepositsNet
4657211 usd
CY2022Q4 DREM Other Deposits Net
OtherDepositsNet
3677662 usd
CY2023Q2 DREM Deposits And Costs Coincident To Acquisition Of Land For Development
DepositsAndCostsCoincidentToAcquisitionOfLandForDevelopment
7158634 usd
CY2022Q4 DREM Deposits And Costs Coincident To Acquisition Of Land For Development
DepositsAndCostsCoincidentToAcquisitionOfLandForDevelopment
6179085 usd
CY2023Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
3407579 usd
CY2022Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
3748579 usd
CY2023Q2 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
1388563 usd
CY2022Q4 us-gaap Loans Payable To Bank Current
LoansPayableToBankCurrent
3113563 usd
CY2023Q2 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
2019016 usd
CY2022Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
635016 usd
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.12 pure
us-gaap Interest And Debt Expense
InterestAndDebtExpense
54050 usd
CY2022 us-gaap Interest And Debt Expense
InterestAndDebtExpense
37250 usd
CY2023Q2 us-gaap Other Notes Payable
OtherNotesPayable
552833 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
923660 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
908660 usd

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